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Here's Why Moderna (MRNA) Gained But Lagged the Market Today
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Moderna (MRNA - Free Report) closed the latest trading day at $85.95, indicating a +0.68% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 1.3%.
Prior to today's trading, shares of the biotechnology company had lost 16.44% over the past month. This has lagged the Medical sector's gain of 1.18% and the S&P 500's gain of 3.69% in that time.
The investment community will be closely monitoring the performance of Moderna in its forthcoming earnings report. The company is scheduled to release its earnings on February 22, 2024. The company's earnings per share (EPS) are projected to be -$0.82, reflecting a 122.71% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.5 billion, indicating a 50.84% decline compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Moderna should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.62% higher. Moderna currently has a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why Moderna (MRNA) Gained But Lagged the Market Today
Moderna (MRNA - Free Report) closed the latest trading day at $85.95, indicating a +0.68% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 1.3%.
Prior to today's trading, shares of the biotechnology company had lost 16.44% over the past month. This has lagged the Medical sector's gain of 1.18% and the S&P 500's gain of 3.69% in that time.
The investment community will be closely monitoring the performance of Moderna in its forthcoming earnings report. The company is scheduled to release its earnings on February 22, 2024. The company's earnings per share (EPS) are projected to be -$0.82, reflecting a 122.71% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.5 billion, indicating a 50.84% decline compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Moderna should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.62% higher. Moderna currently has a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.